Thats a good question. If memory serves, this will be a pivotal year because some large debt becomes due in 2015 (something in the multiple billions, not just millions). So (I think) that's a part of why they're shuffling things around to that new "Caesars Growth Partners" company. I'm assuming that they will let the "most losing" properties stay CET while sheltering everything else (including the online gaming interests) in CGP. I also think that if this strategy comes through, CGP wouldn't necessarily be poised for growth. I have yet to see one company/state take a stance on online gaming that can significantly grow their base.
I have no idea what this does to the gaming licenses but I doubt that being in bankruptcy re-structuring would immediately disqualify them from holding one. But I would think that it puts comps into jeopardy - at bankruptcy you would be a "credit holder" of CET.
On Mon, Apr 7, 2014 at 10:33 AM, James Thompson <jamesgthompson@hotmail.com> wrote:
Any idea when they will file for bankruptcy? If they do, will they lose their gaming license?
I can't see how they're still hanging on.
James Thompson
To: vpFREE@yahoogroups.com
From: funny.young.guy@gmail.com
Date: Mon, 7 Apr 2014 09:12:57 -0700
Subject: Re: [vpFREE] CET is getting tight on the freeplay
Thats only 20% of their current debt. Stop living in the past and look at their recent quarterly financials. They hemorrhage money.On Mon, Apr 7, 2014 at 6:13 AM, <vetsen@cox.net> wrote:
$2.25 billion of interest expense and $3 billion of impairment charges in 2013. Those are both very much tied to the leveraged buyout of 5 years ago.
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